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Al-Qassabi to lead Saudi team at COMCEC meet in Istanbul today

Courtesy COMCEC
RIYADH: Commerce and Investment Minister Dr. Majid Al-Qassabi, will head the Saudi delegation to the 33rd session of the Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Cooperation (COMCEC), which will begin in Istanbul on Thursday.

The preparatory discussions for the forthcoming ministerial meeting concluded in Istanbul on Wednesday.

Presenting the report of the OIC General Secretariat at the preparatory meeting, the assistant secretary-general for economic affairs, Ambassador Hameed Opeloyeru, highlighted activities to achieve targeted OIC intra-trade levels by the year 2025, including the objective of establishing a free trade zone in light of the anticipated implementation of the existing preferential trade system.

The focus of the four-day meeting of COMCEC is to develop trans-border transportation corridor projects in OIC member states, given that the sector is among the main priorities on the economic cooperation agenda since transportation is a major catalyst of economic development and competitiveness.

The agenda of the 33rd session of the COMCEC will discuss the improvement of trans-border transport corridors between member countries; examine global economic developments; promote the volume of intra-OIC trade; strengthen the role of the private sector in economic cooperation; as well as increase the productivity of the agricultural sector in sustaining food security and alleviating poverty.

The Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation was established during the 3rd Islamic Summit Conference in Makkah in 1981.

The president of Turkey was chosen as its president at the 4th Islamic Summit Conference in 1984, with 57 members. The Kingdom holds the position of deputy chairman of the Standing Committee for Economic and Commercial Cooperation among Islamic Countries.

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